Wex Inc. · NYSE:WEX
Wex — Merger or Acquisition (January 2020)
8 slides from Wex's merger presentation, Jan 24, 2020
Slide 1: WEX to Acquire eNett & Optal
WEX to Acquire eNett & Optal January 24, 2020
Slide 2: Forward Looking Statement Disclaimer
Forward Looking Statement Disclaimer This material contains forward-looking statements, including statements regarding: the proposed acquisition; the financial impact of the acquisition; the anticipated benefits and synergies of the acquisition; the timing of any potential completion; future opportu
Slide 3: Transaction Summary
Transaction Summary OVERVIEW WEX to acquire eNett and Optal for total consideration of approximately $1.7 billioneNett and Optal are already highly integrated companies and will be fully integrated under WEX’s ownershipeNett is a leading provider of B2B payments solutions to the travel industryOptal
Slide 4: eNett and Optal Overview
eNett and Optal Overview eNett and Optal provide B2B payment solutions globally, predominantly in the travel spaceOfferings include:Issuing virtual account numbers (VANs)Prepay, chargeback and settlement solutions for hotel, airfare, car rental and rail optionsRisk, settlement and performance toolsC
Slide 5: Strategic Rationale
Strategic Rationale Complementary businesses add product functionality and extend WEX’s geographic coverage in the global travel market 5 ☑ ☑ ☑ Accelerates WEX’s global growth strategyExtends WEX’s leadership in the large and growing global travel market Provides complementary footprint in EMEA and
Slide 6: Compelling Financial Rationale & Expanded Geographic Footprint
6 Compelling Financial Rationale & Expanded Geographic Footprint Purchase Volume (LTM 9/30/19) ~$20 billion FY2016 - 3Q2019 Purchase Volume CAGR 36% Revenue (LTM 9/30/19) ~$150 million* Complementary Geographic Travel Spend Mix of eNett and Optal Combination of WEX, eNett, and Optal creates best in
Slide 7: Financial Considerations
Financial Considerations FINANCING STRUCTURE WEX has received committed financing to fund the cash considerationNew debt financing expected to result in less than 4.50x net leverage at closingExpect to maintain current ratings profileStrong free cash flow generation drives enhanced deleveraging of a
Slide 8: Key Takeaways
Key Takeaways Compelling strategic acquisition that adds capabilities and scale to Wex and strengthens its position in the Travel Payments industry Combination of scale, distribution and technology creates a leading travel payments providerProvides additional product functionalityProvides geographic